The global solvent market expected to grow in the forecast period of 2026-2035 at a CAGR of 6.20% to attain USD 45.77 Billion by 2035.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
6.2%
2026-2035
*this image is indicative*
Solvents are used in a wide variety of applications. They are found all around us. Thousands of manufacturers and production facilities rely on solvents to provide solutions to their manufacturing needs. In daily house cleaning activities, a solvent is used as a cleaning and degreasing agent, for instance, in toiletries, floor, glass, or any dirt cleaning. Amid the Covid 19 pandemic, beauty consumers have renewed their interest in skin care. The ongoing trend on social media urges people to improve overall skin health and fairness. As a result of this, many beauty retailers and manufacturers witness an increase in demand for essential skin products. Many of the products we use daily, ranging from pharmaceuticals to industrial coatings, require solvents at all costs. The rising demand for solvents from end use industries is boosting the market growth of the product.
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The term solvent refers to a large number of chemical substances that have commercial applications across various industries. The solvents are ubiquitous which are used across various industries ranging from coatings and paints, plastics, textiles, rubber, pharmaceuticals, oil and gas, chemical synthesis, construction, among others.
Based on product, the market is segmented into:
Based on application, the market is segmented into:
Market Breakup by Region
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The rise in the demand for solvents in the construction and agricultural industry creates an opportunity for the growth of the solvents industry. The increasing use of home and personal care products is driving the demand for solvents in both developed and developing countries. The mass madness of facial and skin care products is supposed to provide opportunities to increase the revenue for manufacturers and suppliers of personal care products, particularly in emerging economies.
High demand for solvents from the construction industry and from agricultural chemicals application is estimated to drive its markets during the forecast period. The construction industry is the backbone of rapid urbanisation and solvents plays a very important part in the constructed infrastructure; it acts as carriers for surface coatings. Solvents are very important to pesticides, and they are used to dictate the healthy growth of plants and vegetables. Solvents are used to extract oils and flavour from nuts, and it is certain that solvents are used extensively in agricultural products, most importantly in oils and spice extract.
The report presents a detailed analysis of the following key players in the global solvent market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
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The global solvent market is projected to grow at a CAGR of 6.20% between 2026 and 2035.
The market is estimated to witness a healthy growth in the forecast period 2026-2035 to reach USD 45.77 Billion by 2035.
The market is being driven by rapid urbanisation, inflating disposable incomes, and the increasing use of solvents in the construction and agricultural industries.
The key trends of the market include increasing research and innovations to create more advanced solvents and rising demand for bio-based solvents.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The products of solvent in the market are hydrocarbons, alcohol, esters, ketones, and chlorinated, among others.
The significant applications of solvents are printing ink, paints and coatings, pharmaceuticals, and adhesives and cosmetics, among others.
The key players in the global solvent market are BASF SE, Royal Dutch Shell plc, Exxon Mobil Corporation, Celanese Corporation, Ashland Inc., and INEOS Group, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option |
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